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Mthuli Ncube negotiates 'smart' Rand credit facility

by Staff reporter
22 Mar 2019 at 06:52hrs | Views
Government is structuring a deal with South Africa's Reserve Bank that will see banks in the neighbouring country paying directly to South African suppliers for Zimbabwe private sector's raw material requirements.

The facility will be constructed under the Bi National Commission (BNC) that was held between the two countries earlier this month. Zimbabwe's private sector largely sources its raw materials and other operational requirements from South Africa.

Finance and Economic Development Minister Mthuli Ncube, said such a facility would negate the typical exchange risk that would come with a traditional loan facility.

Source - Business Weekly